The surge in Manhattan Beach home prices a few years ago delivered some spillover buyers to the Palos Verdes Peninsula as they searched for more affordable luxury homes in the South Bay of Los Angeles. It may seem odd to see affordable and luxury in the same sentence, but high-end home buyers are always in search of top value for dollars spent. As time passed, luxury home prices in Palos Verdes crept upward, and there was some leveling off in the luxury home markets of the beach cities. Charlemagne Int'l Properties defines luxury homes as those properties selling at or above [...]

Let's begin with 2017 residential income listings and sales in Redondo Beach. Active Listings: There are currently nine residential income properties for sale in Redondo Beach ranging in price from $1,595,000 to $7,200,000. Pending Sales: Nine Redondo Beach income properties are in escrow with accepted offers. 2017 Sales Y-T-D: 44 Redondo Beach residential income property sales were recorded as of 10/26/2017 per MLS records. Hermosa Beach Residential Income Report for 2017: Active Listings: There are seven Hermosa Beach residential income properties listed for sale ranging in price from $1,659,000 to $5,195,000. Pending Sales: Two Hermosa Beach residential income properties are [...]

Beach Cities Coastline As the first quarter of 2017 comes to an end I thought it was time to see how income property sales and listing are shaping up. Are prospective buyers on hold until the new tax laws come into effect, or are buyers shopping to lock in interest rates before the inevitable rate hikes? Like most local real estate markets, residential income property continues to contend with low inventory. 2-4 Unit properties continue to be the most popular with buyers. Financing is most attractive for the 2-4 unit properties; when purchasing five or more units the [...]

I was browsing about on Zillow for a luxury home in Manhattan Beach for one of my clients. I was surprised to see Zillow is predicting a small increase in value for the area in 2017. On the other hand, property in the Beach Cities of the South Bay of Los Angeles has enjoyed a phenomenal surge in value since the housing market recovered from the recession years of 2008-2010. I'm happy to see the market taking a breather and not advancing toward a bubble; bubbles burst. 86 Manhattan Beach luxury homes priced at or above $3,000,000 sold during 2016. [...]

The South Bay of Los Angeles is popular with landlords for a variety of reasons; perhaps the top one being real estate prices are high, and that supports an ever-growing pool of renters. The Beach Cities of Redondo, Hermosa and Manhattan are prime coastal locations for residential income properties. It's a lifestyle many aspire to and although the purchase prices are high there are a surprising number of rentals available near the beach. Let's begin with a market update for Redondo Beach's residential income properties: 8 Residential income properties are currently for sale in Redondo Beach. 6 Redondo [...]

Oops, it happened again. The number of available Palos Verdes single-family homes for sale dropped below 200. The shrinking supply pushed the market toward an even stronger sellers' market. Similar market trends apply to the Beach Cities real estate market as well. Low inventory has become our new normal. At the current rate of absorption, Palos Verdes has less than two months of available inventory and the Beach Cities has just over six weeks, yes weeks, unless new listings are added. Palos Verdes Real Estate Market Report for Single-Family Homes: 187 Palos Verdes single family homes are for sale. 102 [...]

The Beach Cities of Los Angeles continues to be one of the hottest markets for income units in the South Bay area. In recent years the demand for 2-4 unit buildings has soared, with developers grabbing up the smaller buildings to replace them with quick profit townhome buildouts. Investors are chasing the triplex and fourplex market due to attractive financing. But even the larger complexes are selling too, with sales going over $5 million on a regular basis. As units are replaced by new townhomes, the income property inventory isn't being replaced. Developers and unit owners just aren't putting in [...]

Redondo Beach: There are currently six Redondo Beach residential income properties for sale. Eight Redondo Beach income properties are currently in escrow with accepted offers. Twenty-two residential income properties have sold year-to-date in Redondo Beach. At the current rate of absorption, Redondo's supply is extremely limited, and demand remains high for premium coastal income producing properties. Hermosa Beach: There are currently ten Hermosa Beach residential income properties for sale. Thirteen Hermosa Beach income properties are currently in escrow with accepted offers. Thirteen Hermosa Beach residential income properties have sold year-to-date. 13 seems to be the lucky number for Hermosa [...]

It's hot here in the Greater Los Angeles area, and per a bevy of weather forecasters, the thermometer is going to reach new heights today. With that in mind, I thought you might like to see a few photos of the beaches (and a few rocky coastlines) of the South Bay of Los Angeles. Private Beach in Rancho Palos Verdes--residency or membership required. Not much sand here, but look at that whitewater along the Palos Verdes coastline. What could be better than an evening stroll to escape the heat and enjoy [...]

The beach, the sunny Southern California weather, and the laid back lifestyle have made Redondo one of the most popular cities in the South Bay. In recent years Redondo home prices have started to climb rapidly as buyers from the other beach cities, Hermosa & Manhattan Beach, have looked for other options. Redondo has also been more friendly to increased housing density, so many older 1920's to 1950's homes have been replaced with 2-3 townhome build-outs on the same lot in the 1990's through 2010's. These mini developments offer spacious multi-level living, attached garages & usually an outdoor patio [...]